Guinea Bissau

Guinea-Bissau is a low-lying Western African nation situated on the Atlantic coast with over 100 islands and is a low-income country with a GDP of 1.5 billion USD in 2018. The economy of Guinea-Bissau is primarily based on subsistence agriculture, which accounts for 50% of GDP. The main agricultural and fisheries products of Guinea-Bissau are cashews, rice, cassava, palm kernels, and fish. Presently, the agricultural sector of Guinea-Bissau is negatively affected by the impacts of climate change, such as rising temperatures, rising sea-levels, drought, and flooding, which the government is seeking to address through partnerships with the United Nations. Similarly, the Government of Guinea-Bissau renewed a Sustainable Fishing Partnership Agreement in 2019 with the European Union (EU), which grants EU registered vessels fisheries access rights in return for funds partially earmarked for improving the sustainable management of Guinea-Bissau’s fisheries. Guinea-Bissau also has an industrial sector that comprises 13.1% of the country’s GDP and includes industries such as construction as well as manufacturing that refines agricultural products and processes beverages. Potential exists for developing a variety of mining activities in Guinea-Bissau, which includes the extraction of bauxite, phosphate, and offshore oil and gas deposits.

Guinea-Bissau has a service sector that generates 36.9% of GDP and includes government services, telecommunications, and a transportation and shipping industry that is critical for connecting the outer islands to the mainland. Additionally, tourism is another component of Guinea-Bissau’s service sector, which in 2016 experienced 45,200 visitor arrivals and contributed approximately 2% to GDP. In 2019, the Government of Guinea-Bissau partnered with the United Nations World Tourism Organization to develop a Tourism Strategy and Master Plan that will aid in the sustainable and equitable development of the tourism industry while capitalizing on the country’s natural and cultural heritage.

Guinea-Bissau has a growing startup community with a variety of supports available to help grow small businesses, including startup accelerators, an incubator, and international investment programs. Currently, startups in Guinea-Bissau are primarily engaged in the technology sector. The Government of Guinea-Bissau has set out national targets of 80% electricity access and 50% renewable energy output by the year 2030, which has created additional opportunities for collaborating with Guinea-Bissauan startups.